All Forum Posts by: Morgan Nilsen

I would like to hear your view on Dubai. What makes you think it’s good now? The market has been challenging for some time. What is your opinion of a good market

@Ziyad Mohammed In my opinion, Dubai isn't one market, but instead many. Different areas have different metrics that decide how well they are doing. As far as studios go, 280K is a low price, but without knowing the expenses and the rent you can expect there, its tough to say if the deal is good or not. You will have to do some more digging for information. You can probably find info about rents on dubizzle.com, but you will have to dig some more to find the expenses.

My prediction for the Dubai market is that it will continue to correct further for the foreseeable future. I dont see any reason why the market would go up with the number of new buildings they are putting into the city as well as factors mentioned above. But dubai is a city full of opportunities so dont base your decision purely on my thoughts.

good luck with your decision

Hello Amanda, i currently own 4 properties in this zip and in the last 4 years I have owned 8 total. I also have many friends that own properties there. The area has been amazing for me and my friends. Low prices and high rents. I highly recommend it! Ive been told by my former PM to stay above 38th street, but I own two below and they haven't given me any issues yet.

haha I see! Never been out there. I sometimes go to Abu Dhabi and host as well, but not very often. 

Regarding your documents, can’t you just get a power of attorney with a lawyer at home? I use my lawyer in Indianapolis to handle all of that. 

Hey @Matthew Aubert! Cool to see you live in Dubai as well! I’ve lived here for 7 years and hosted real estate meetups for 4 of them. If you want to network or just talk real estate, you should join us! It’s free and pitch less! I always announce the meetups in our WhatsApp group, so message me privately with your number if you want to be a part. There’s about 70 people in our group and our meetups usually have about 10-15 people every time. Next meetup will be early January 

Hello real estate lovers of the middle east! On Wednesday this week im putting together a meetup in Abu Dhabi. The location has yet to be decided, but message me privately here to find out. It will start fairly early, and last throughout the whole evening. And I expect people will come and go throughout the event. 

It will be free to attend and is suited for experienced and beginning investors alike, so if you live in Dubai, Abu Dhabi or somewhere nearby I hope to see you there!

@Sherif Taher message me your WhatsApp and I’ll add you to our group

Well the Dubai market has fallen by more than 30% in rents and appreciation and its fallen every year for some time now. That’s a major concern. Tough to say how low it will go. The city is in a desert so they have lots of space to build on, and the current problem is oversupply. If you could see that the population growth was increasing, then you could invest with some security. 

Another wildcard is that the tax office opened in The UAE a year ago. There is no current tax on rental income and capital gains. This could be added at some point. And that will hurt the bottom line. 

There is a war brewing very near, and since Dubai is a luxury market, it is likely to get affected more by a recession than other markets. As when people lose their jobs, the vacations they take is the first choice to cut back on. 

I personally see several issues with investing in Dubai real estate right now. But I know that the leaders are working on plans to fix it and they are very skilled and effective. Dubai will become a great place to invest again, but I personally think it will take some time. I know many people that have suffered big losses recently, but I also know many people that have enjoyed big successes in Dubai real estate. 

Obviously Dubai is a incredible city to visit and it will remain as the center of the middle east. Long term thus city will work out its issues. But rule number 1 and 2 in investing is don’t lose money. And investing into a correction with no information about where the bottom is, well let’s just say it’s not my cup of tea

Message is sent privately 

Hey man! I started organizing events in Dubai about for years ago and our group is perfect for you if you wish to talk real estate. I’m traveling until early November but you should join our WhatsApp group to learn when we will meet up next time. Our group has almost 100 members now, and we have beginners, experts and everything in between. Looking forward to hearing from you soon